PROSHARES ULTRASHORT BLOOMBE (SCO) Stock Technical Analysis
NYSEARCA:SCO - NYSE Arca - US74347Y7976 - ETF - Currency: USD
Overall SCO gets a technical rating of 3 out of 10. SCO has been an average performer in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
In the last month SCO has a been trading in the 18.75 - 21.47 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
SCO has an average volume of 1660290 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
When compared to the yearly performance of all other stocks, SCO outperforms 55% of them, which is more or less in line with the market.
SCO is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so SCO is lagging the market slightly.
Although the technical rating is bad, SCO does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period.
More info and screens
14.82
23.13
When analyzing the support we can see 4 important areas.
- A support zone ranging from 18.84 to 18.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @18.18 from a trend line in the daily time frame.
- Support @17.14 from a trend line in the daily time frame.
- Support @14.97 from a horizontal line in the weekly time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 19.60 to 20.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 20.89 to 20.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @22.90 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for SCO is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SCO is down. |
| ChartMill Relative Strength | 55.6 | NEUTRAL | SCO is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SCO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of SCO is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SCO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 41.1 | NEUTRAL | The RSI value for SCO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.14 | NEGATIVE | The MACD value suggests SCO has a negative trend. |
| Stochastics (14,3) | 13.52 | OVERSOLD | The low Stochastics value suggests SCO may be oversold. |
| Average True Range in percent/ATR (20) | 4.01 | MEDIUM VOLATILITY | The ATR as a percentage value for SCO suggests some volalility. |
| Average Directional Index/ADX (14) | 12.06 | NEGATIVE | The low ADX value for SCO suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
18.85
-0.55 (-2.84%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-2.84%
1 Week-9.77%
2 Weeks-7.64%
1 Month-10.54%
3 Month1.13%
6 Month0.05%
12 Month5.78%
2 Year-26.65%
3 Year-17.79%
5 Year-94.84%
10 Year-96.7%
15 Year-97.53%
Volatility
ATR(14)0.73
ATR(20)%4.01%
ATR Inc-16.21%
Range Today0.48
ADR(20)0.57
ADR(20)%3.02%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS55.6
Mansfield0.01
10 Day High21.47
10 Day Low18.75
20 Day High21.47
20 Day Low18.75
52 Week High24.52
52 Week Low14.6
CS1 End18.84
CR1 Start19.6
Volume & EV
DER(3)-1.82%
DER(5)-3.46%
Volume1.76M
Volume Incr35.08%
Vol(5)1.93M
Vol(50)1.66M